| 1 |
Added
protection.
Your credit life and disability benefits will be paid in addition
to any other insurance or company protection you may have. |
| 2 |
No
separate bills.
Each month's insurance premium is clearly shown on your credit
card statement. The amount is added automatically to your balance.
|
| 3 |
Easy
to enroll.
Just complete the attached application form, fold, tape and
mail. |
| DEFINITIONS
AND RESTRICTIONS |
Life
benefits will be paid to the creditor to reduce or pay off your
balance. Benefits will not be paid for death resulting from
suicide within 12 months of the effective date.
Disability benefits will begin
after 30 consecutive days of total disability. If you elect
the zero day elimination period the benefits are payable retroactive
to the first day of disability. If you elect the 30 day elimination
period the benefits are payable commencing on the 31st day of
disability. Total disability during the first 18 months means
that you are unable to substantially perform the duties of your
own occupation. Benefits will continue as long as you are under
the care and attendance of a legally qualified physician. Credit
card purchases made on or after the first day you are absent
from work are not covered. The benefit will be the minimum monthly
payment due on your outstanding balance under the conditions
more fully described in your insurance certificate. Benefits
will not be paid for disabilities resulting from: (a) normal
pregnancy; (b) intentionally self inflicted injury, whether
sane or insane; (c) disability due to or resulting from war,
declared or undeclared, military service or from flight in a
non-scheduled aircraft; or (d) conditions which, within six
months prior to the Effective Date of coverage, manifested themselves
to the insured debtor by requiring medical consultation, diagnosis,
or treatment provided that such pre-existing conditions caused
loss commencing within six months following the Effective Date.
Further details of insurance
coverage are provided in the group policy form #LP 373 available
at the credit union. The provisions set forth in the group policy
take precedence in all instances. |
| YOUR
REQUEST FOR CREDIT INSURANCE |
"You"
or "Your" means the Primary Card Holder.
Credit insurance is voluntary and not required in order to obtain
credit. You can get this insurance only if you check the "yes"
box below and sign the authorization. To be eligible for Life
Insurance you must be less than 71 years old. To be eligible
for disability insurance, the following conditions must be met
immediately prior to the effective date of the coverage; you
must: |
Be
less than 66 years old
Be actively employed and physically
present at work full-time for at least 30 hours per week for
not less than 14 days |
| MAXIMUM
MONTHLY DISABILITY BENEFIT |
$600.00
|
|
|
| MAXIMUM
AMOUNT OF BALANCE INSURABLE |
Life
$30,000 |
Disability
$30,00 |
|
| MAXIMUM
AGE FOR INSURANCE |
Life
THROUGH AGE 70 |
Disability
THROUGH AGE 65 |
|
| TERMINATION
AGE FOR INSURANCE |
Life
71 |
Disability
66 |
|
| Single
Credit Life insurance is available on the primary cardholder.
The monthly cost per $1,000 of insured outstanding account balance
is $0.65. |
| Joint
Credit Life Insurance includes life insurance on both cardholders.
The monthly cost per $1,000 of insured outstanding account balance
is $1.04. |
Single
Credit Disability (accident and sickness) is available on the
primary cardholder. The monthly cost per $1,000 of insured outstanding
account balance is.
30 day elimination period....$1.60
0 day elimination period...$2.20
|
For more
information on Credit Card Protection contact
the nearest Gwinnett Federal Credit Union branch
or to have information sent to you click
here. |
